An Intergovernmental Cryptocurrency CBDC is a concept that blends several ideas: government-backed digital currency, cryptocurrency technology, and cross-border cooperation. Let me break it down carefully:
1. CBDC (Central Bank Digital Currency)
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A CBDC is a digital form of a country’s official currency issued by its central bank (e.g., the Federal Reserve in the U.S., the European Central Bank in the Eurozone).
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Unlike Bitcoin or other decentralized cryptocurrencies, a CBDC is centralized and fully backed by the government.
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Purpose: faster payments, reduced cash handling, better financial inclusion, and more efficient monetary policy.
2. Intergovernmental Aspect
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This means more than one government is involved.
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An intergovernmental CBDC would be designed for use across borders—e.g., to facilitate trade, reduce currency conversion costs, or allow citizens in multiple countries to transact easily.
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Governments would collaborate on standards, regulatory frameworks, and possibly shared infrastructure.
3. Cryptocurrency Characteristics
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Even though CBDCs are government-issued, an intergovernmental CBDC can use blockchain or distributed ledger technology (DLT), which is common in cryptocurrencies.
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This allows:
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Transparency: Transactions can be recorded immutably.
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Efficiency: Cross-border transactions can settle almost instantly.
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Programmability: Smart contracts can automate certain rules (e.g., taxes, sanctions compliance).
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4. Example (Hypothetical)
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Imagine the “Digital Euro-Dollar”: jointly issued by the EU and the U.S. for cross-border trade.
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It’s a CBDC because it’s government-backed.
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It’s intergovernmental because multiple governments manage it.
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It uses blockchain technology like a cryptocurrency to track transactions securely.
💡 Key takeaway:
An Intergovernmental Cryptocurrency CBDC is basically a government-backed digital currency designed to work across countries, often leveraging blockchain, merging the trust of central banks with some technical benefits of cryptocurrency.
APPENDIX
It should be noted that the above publication by ChatGPT is far more comprehensive than anything CRE has published in a single publication. We reach this conclusion because CRE has been publishing on the subject under discussion for a considerable time period and it is virtually impossible for CRE to take the steps necessary to address all relevant data produced by CRE over a forty year period into one publication as is the case with the ChatGPT publication. It is an even greater challenge for CRE to perform the same process for the myriad of comments it recieves from its followers.
Hopefully CRE’s conclusion that the United States government is in a free fall to insolvency is incorrect. That said, too much is at stake to not begin an informed discussion of the remedy presented herein, even with its attendant shortcomings, as the preferred alternative to the conventional solution of simply printing and issuing additional currency to address burgeoning budget deficits.
